Rice Milk Market is predicted to reach USD 6.47 billion at a CAGR of 13.31% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the "Global Rice Milk Market" that contains information from 2018 to 2032. The Rice Milk market is estimated to register a CAGR of 13.31% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Rice Milk market- Vitasoy Australia Products Pty Ltd (Australia), Campbell Soup Company (US), The Hain Celestial Group (US), Pureharvest (Australia), Nature's Choice Pty Ltd (South Africa), Panos Brands LLC (US), WhiteWave Foods (US), SunOpta Inc. (Canda), The Bridge S.R.L (Italy), and Fine Japan Co. Ltd. (Japan).

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Market Highlights

The global Rice Milk market is accounted to register a CAGR of 13.31% during the forecast period and is estimated to reach USD 6.47 billion by 2032.

The rice milk market features a plant-based alternative to dairy milk made from rice grains. It caters to lactose-intolerant, vegan, and health-conscious consumers seeking a milk substitute. With its light flavor and nutritional attributes, rice milk has gained popularity as a dairy-free option in various culinary and beverage applications.

Segment Analysis

The global Rice Milk market has been segmented based on Form, Category, and Distribution Channel.

On the basis of Form, the market is segmented into powder and liquid. The market was dominated by the powder category. The most practical way to formulate finished products and extract them from rice grains is in the powder form of rice milk. Rice milk powder is acceptable for non-GMO and glutton-free diets.

Based on Category, the global Rice Milk market has been segmented into organic and conventional. Due to growing consumer preference for natural and organic components, the organic category dominated the market. In 2033, the total volume is anticipated to reach 87,943.05 Tonnes.

Based on Distribution Channel, the global Rice Milk market has been segmented into store- and Non- store based. The category of non-store-based distribution channels produced the greatest revenue. The growth can be ascribed to the vast range of affordable dairy substitute products.

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Regional Analysis

The global Rice Milk market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Rice Milk market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Rice Milk market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Rice Milk market comprises of Middle East, Africa, and Latin America.

The North American Rice Milk Market dominated this market in 2022. Due to the region's growing population of lactose intolerant people, this market is expected to grow quickly during the projected period.

Additionally, the second-largest market share for rice milk in Europe is attributable to the growing popularity of veganism and the region's constantly expanding vegan population. Additionally, the UK Rice Milk market had the quickest rate of growth in the European Region, while the German Rice Milk market had the highest market share.

Moreover, from 2023 to 2032, the Asia-Pacific rice milk market is anticipated to experience the quickest CAGR growth. This is a result of customers' growing understanding of the exceptional advantages provided by rice milk, including its high levels of calcium content, Vitamin B and A, and other nutrients. In addition, the Indian Rice Milk market had the highest rate of growth in the Asia-Pacific region, while China's Rice Milk market had the largest market share.

Key Findings of the Study

The global Rice Milk market is expected to reach USD 6.4659 billion by 2032, at a CAGR of 13.31% during the forecast period.
The North American Rice Milk Market dominated this market in 2022. Due to the region's growing population of lactose intolerant people, this market is expected to grow quickly during the projected period.
Based on Form, The market was dominated by the powder category.
Vitasoy Australia Products Pty Ltd (Australia), Campbell Soup Company (US), The Hain Celestial Group (US), Pureharvest (Australia), Nature's Choice Pty Ltd (South Africa), Panos Brands LLC (US), WhiteWave Foods (US), SunOpta Inc. (Canda), The Bridge S.R.L (Italy), and Fine Japan Co. Ltd. (Japan).
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